Outline Taxation PDF

AIR UNIVERSITY
Spring 2019
Air University School of Management
Course Information
Course Title: Advance Taxation Lab (No)

Credit hrs: 3
Prerequisites For this Course: Tax Management
This Course is Prerequisite For: N/A
Instructor: Muhammad Tauseef Shaukat
e-mail : tauseefgcc@gmail.com
Address: Visiting Faculty AUSOM
Web: http://www.au.edu.pk
Text Book: Taxation(Pakistan) : Synopsis of tax management in Pakistan
Reference Book(s):
Income Tax Ordinance 2001
.
Course Objective
The course covers the current tax system in Pakistan and its implication on the overall economy and
growth of the country and the taxation philosophy in corporate sector. The course is designed with
more practical implications of tax system and its usage for individual and industry. The objective of the
course is that student should get through understanding of tax regime in Pakistan and will be able to
have judgment call on various tax issues prevail in the country. Further this course shall give an
understanding to the students to understand the process involved in tax returns and its implications on
our daily life.
Learning Outcomes and Objectives:

Upon successful completion of the course students should be able to:
 Able to file his income tax return:
 Have a understanding of the importance of tax within the context of fiscal policy
 Understand budget and its impact on our life.
Lecture Plan
Week Topics
1  Introduction of Corporate Taxation
 Definition of Company
 Resident and Non Resident Company
&2
 Flash Back of Financial Accounting
 How to calculate income of a Company

3  Accounting and Tax ( Relation)
 Practice of Calculating Net Profit
4  Allowable Deductions
 Special Provisions
1
 Depreciation
 Normal and Abnormal losses
 Bad Debts
(Practical Problems)
 Scientific Research Expenses

 Expenses on Employees Training and Facilities
 Provident Fund Contribution
5
 Entertainment Expenses
 Not Allowable Deductions

 Any cess rates and taxes
 Personal expenses
 Non verifiable Expenses
6
 Payment to Non- Resident (Special Case)
 Payment Exceeding 50,000 (Special case)
 Average Relief in Tax on Certain Expenses

 Donations
 Investment in Shares
7  Others
 Formulas for relief
 Dealing with Income from property and Capital gains

8 along with Business Income
 Working of Final Tax Regime Items
 Practical Problems
10
 Definition of AOP
 Resident and Non Resident AOP
11  Taxation of AOP
 Format for Income and tax of AOP and its Partners.

12
 Practice of Numerically Solving AOP Tax
13
 The Federal Excise Act 2005

14  FED. Levy of Duty
 Introduction of The Customs Act 1969

15  Scope of Custom Duties
16 Revision
2
Grading and General Course Policies:
The grading will be done as per the policy of the university, however, the final grade for the
course will be determined based on the total points accumulated in the below areas with following
weightage:
Final Examination (60%)

Quizzes/ Assignments (20% +20%)
Students will be assigned a team project related to the important issues of the subject. Moreover,
the students will visit at least one big organization and will write a report on their visit.
Note:-
1. Students must bring text book and Scientific Calculator in the Class.
2. Active class participation will be rewarded by the grades.
3. Request for change in the deadlines of various class activities and the term
projects/presentations will not be entertained.
4. Based on the nature of subject, subsequent topics build on previously learned
material, it is necessary that students must keep up with the material.
5. Students should ensure that lectures are understood properly.
6. Each course will include the following:
a. At least 4 quizzes, all carrying equal weight age. The quizzes will be
unannounced and there will not any retake if a student misses a quiz.
b. Assignment: On the discretion of the Faculty Member/Course Requirement.

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AIR UNIVERSITY

Course Title: Advance Taxation Lab (No)

Learning Outcomes and Objectives:

 How to calculate income of a Company

 Scientific Research Expenses

 Not Allowable Deductions

 Average Relief in Tax on Certain Expenses

 Dealing with Income from property and Capital gains

 Format for Income and tax of AOP and its Partners.

 The Federal Excise Act 2005

 Introduction of The Customs Act 1969

Final Examination (60%)

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